Cyber Security

Blackstone-backed Patria creates Latam cybersecurity platform, eyes IPO

SAO PAULO, Oct 5 (Reuters) – Brazilian asset supervisor Patria Investments Ltd (PAX.O) has acquired cybersecurity corporations Neosecure and Proteus to create the biggest data safety platform in Latin America, it stated on Tuesday.

Patria, backed by Blackstone Group Inc (BX.N), additionally stated it plans to listing shares within the new enterprise within the close to future.

The agency didn’t disclose how a lot it has paid for the businesses, however stated that it’ll make investments $250 million within the sector.

It additionally goals to speed up its development within the data safety market through new acquisitions.

The corporate added that its new cybersecurity enterprise operates in Brazil, Chile, Argentina, Peru and Colombia, with an annual income estimated at 500 million reais ($91.66 million).

“Our objective is to speed up the market consolidation by way of the acquisition of strategic gamers, and shortly elevate extra capital through an preliminary public providing,” stated Marcelo Romcy, cofounder of Proteus and associate within the new platform.

Patria raised $588 million in its personal IPO on the Nasdaq earlier this yr.

($1 = 5.4548 reais)

Reporting by Gabriel Araujo, modifying by Louise Heavens

Our Requirements: The Thomson Reuters Trust Principles.

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